Match Group (NASDAQ:MTCH) Given “Neutral” Rating at Bank of America

Bank of America reiterated their neutral rating on shares of Match Group (NASDAQ:MTCH) in a report released on Thursday morning, MarketBeat reports. They currently have a $35.00 target price on the technology company’s stock, down from their previous target price of $50.00.

Several other brokerages also recently weighed in on MTCH. Evercore ISI upgraded shares of Match Group to a “strong-buy” rating in a research report on Thursday, August 1st. Truist Financial upped their price target on shares of Match Group from $33.00 to $37.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $38.00 price objective on shares of Match Group in a research report on Wednesday, July 31st. Morgan Stanley cut their price objective on shares of Match Group from $34.00 to $33.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. Finally, HSBC raised shares of Match Group from a “hold” rating to a “buy” rating and set a $43.20 price target on the stock in a research note on Monday, August 5th. Eight analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $40.90.

Match Group Price Performance

Shares of MTCH stock traded down $0.56 during trading on Thursday, reaching $30.55. The company’s stock had a trading volume of 10,133,630 shares, compared to its average volume of 5,286,026. The company has a market capitalization of $7.88 billion, a price-to-earnings ratio of 13.51, a P/E/G ratio of 0.79 and a beta of 1.51. The stock’s 50-day moving average price is $36.95 and its 200 day moving average price is $33.99. Match Group has a 1-year low of $27.66 and a 1-year high of $42.42.

Match Group (NASDAQ:MTCH) last posted its quarterly earnings results on Wednesday, November 6th. The technology company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.46 by $0.05. Match Group had a net margin of 17.86% and a negative return on equity of 727.22%. The company had revenue of $895.48 million during the quarter, compared to analysts’ expectations of $900.33 million. On average, sell-side analysts anticipate that Match Group will post 1.96 EPS for the current fiscal year.

Hedge Funds Weigh In On Match Group

Several large investors have recently made changes to their positions in the business. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Match Group during the 3rd quarter valued at about $251,000. Caprock Group LLC acquired a new position in shares of Match Group in the third quarter worth about $221,000. Aviance Capital Partners LLC purchased a new stake in shares of Match Group in the third quarter worth approximately $2,170,000. Mawer Investment Management Ltd. lifted its position in shares of Match Group by 71.4% in the third quarter. Mawer Investment Management Ltd. now owns 643,335 shares of the technology company’s stock worth $24,344,000 after purchasing an additional 267,890 shares in the last quarter. Finally, Quest Partners LLC purchased a new stake in shares of Match Group in the third quarter worth approximately $382,000. Institutional investors own 94.05% of the company’s stock.

About Match Group

Match Group, Inc engages in the provision of dating products. Its portfolio of brands includes Tinder, Hinge, Match, Meetic, OkCupid, Pairs, Plenty Of Fish, Azar, BLK, and Hakuna, as well as a various other brands, each built to increase users' likelihood of connecting with others. Its services are available in over 40 languages to users worldwide.